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20121203
20121203
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CNBC 3
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CNBC
Dec 3, 2012 1:00pm EST
some big sales but some of it was because of super storm sandy. our phil lebeau is behind t wheel in chicago. >> we knew this would be a better than expected november and look at these numbers. generally speaking with a few exceptions, all of the automakers reported better than expected results last month. gm being one of the exceptions, being just a little bit below expectations. what did we see last month? the sales pace is going to come in probably about 15.2 million, first time over 15 million since early '08. we talked about sandy helping sales. there was also the economy. ford talked about that during the conference call today. ford raised its q1 production by 11% to 750,000 vehicles. compare that to the story of general motors. this worries people from today's auto sales results. gm warning it may cut truck production due to inventory build-up. they're at 139-day supplies of pick-up trucks. some of that is because they built up earlier this year for transition into a new truck. they've been targeting 80 to 85 days truck production. 139 days concerns a number of people. one
CNBC
Dec 3, 2012 2:00pm EST
in phil lebeau. all right, phil, prediction time, baby. can we hit 15 million cars and trucks sold this year? >> not for the year. monthly sales waist which we'll get later on this afternoon, yeah, i think we'll definitely hit 15 million. that's a pace for the month of november. each of the individual automakers all did probably better than expected. all except for general motors. when you look at these numbers, gm is the one that came in. that's the annual sales pace. as you go back to 2007, that's really the last time you were above 15 million for an entire year. for the individual automakers, again they're all positive for the month. gm the only one that does not meet expectations. what drove sales last month? an improving economy. sandy. post-sandy storm. buying in the new york, new jersey area. in fact when you talk with dealers in that area they say they saw sales gained throughout the month and that's good news for luxury automakers. bmw just reported sales increasing 38.8% for the year. they've sold almost a quarter million bmws here in the united states and as a company, w
CNBC
Dec 3, 2012 4:00pm EST
monthly rate since january of 2008. maria, back to you. >> thank you so much. phil lebeau with the latest there. give us 90 seconds, we'll give you what you need to make money tomorrow. stay with us on that. three of wall street's top money pros are up with their tuesday morning game plan. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's mer
Search Results 0 to 2 of about 3